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Silicon Valley Bank and MasterCard Introduce a Commerce Accelerator Program for Startups

02/14/2014

Established by experts in the global payments industry, Commerce.Innovated. is a four-month program for four to six startups. The program is custom designed for each startup to address key operational and technology challenges by working with subject matter experts across the commerce space.

Early stage companies that meet the following criteria may apply by February 21, 2014:

  •  Innovative commerce focused solutions

  •  Pre-series A, seed round secured

  •  Live with beta product

  •  Path to revenue defined

  •  Core team established

"This program is consistent with our core mission, to increase the probability of our clients' success," said Bruce Wallace , Chief Operations Officer of Silicon Valley Bank. "We want to provide focused operational knowledge and connections to help commerce startups overcome operational and infrastructure challenges, so we mobilized our team to create a program that will help them get their commerce platforms to market quickly."

"Having run a startup that partnered with MasterCard in the past, I know first-hand the very tangible value that can come from an opportunity like this.  Startups can leverage the deep domain expertise that a company like MasterCard can share.  In return, larger companies benefit from the experience of working and thinking like a startup to help challenge the 'usual' way of doing things within an established organization," said Garry Lyons, Chief Innovation Officer for MasterCard. 

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